CCI seeks public comments on proposed Bharat Forge-AAM India Manufacturing deal

New Delhi: Fair trade watchdog CCI on Wednesday stated it has sought public feedback on Bharat Forge Ltd’s proposed acquisition of AAM India Manufacturing Corporation Pvt Ltd after prima facie concluding that the transaction may adversely impression competitors. In October final 12 months, Bharat Forge sought the Competition Commission of India‘s (CCI) approval for the buyout of AAM India Manufacturing Company.

Bharat Forge is a number one supplier of solid parts and options to numerous sectors whereas AAM India Manufacturing Company is into manufacturing and sale of axles for commercial vehicles within the nation.

“The Fee is of the prima facie opinion that the proposed mixture is prone to have an considerable adversarial impact on competitors and, accordingly, has directed the events, when it comes to Part 29(2) of the Competitors Act, 2002, to publish particulars of the mixture for bringing the mixture to the data or info of the general public and individuals affected or prone to be affected by such mixture,” CCI stated in a launch on Wednesday.

Offers past a sure threshold are required to get approval from the CCI, which retains a tab on unfair enterprise practices throughout sectors.